Taylor cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

A general summary of the cost of living index in Taylor, TX is shown above. Compared to the state average of Texas the cost of living index in Taylor, TX is 89, which is 2% lower than the average in Texas and compared to the national average it is 11% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Taylor, TX goods and services come in at 1% higher than the average in Texas and are 6% lower than compared to the nationwide average.

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How would you rate the cost of living in Taylor?Excellent. Goods, services and housing are all very affordable.Good. Most goods and services are affordable.Poor. Everything is more expensive than I'd like.Awful. You'll have to take out a loan to live here.View resultsWrite a review to give others more information about this area.Is the cost of living increasing or decreasing in Taylor?Decreasing rapidly. Costs are dropping at a rapid rate.Decreasing steadily. Costs of goods and services are declining.Increasing steadily. Prices are increasing, but at a reasonable rate.Increasing rapidly. I can barely keep up with the increasing prices.View resultsWrite a review to give others more information about this area.

Compare Taylor, TX Cost of living To Other Cities

Salary Calculator

I currently make 50,000This is how much you would need to earn in Price difference in compared to

Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

Use the salary calculator to compare your current income in Taylor, TX to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Taylor, TX, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Taylor, TX salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$57,224

$4,769

$1,335

$1,717

Renters

$31,758

$2,647

$741

$953

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Taylor, TX as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Taylor, TX homeowners, is $57,224. This would allow for a maximum of $1,335 per month to be spent on housing costs. For renters, the median monthly income is $31,758 which would result in a maximum of $741 to be spent on rental costs.

Texas Sales Tax

State

General Sales Tax

With Max Surtax

Texas

6.25%

8.25%

Texas Income Tax

State

Income Tax (Low)

Income Tax (High)

Texas

0%

0%

One thing to keep in mind when considering the cost of living in Taylor, TX is the Texas sales tax and Texas income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Texas sales tax rate is 6.25% and the maximum surtax that can be charged is 8.25%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Texas income tax rates range from 0% to 0%.

Goods & Services

Item

Taylor

National avg.

Difference

Haircut

$22.33

$16.09

38.8%

Beauty Salon

$50.37

$37.33

34.9%

Toothpaste

$2.05

$2.45

16.2%

Shampoo

$0.98

$1.00

2.1%

Movie

$10.75

$10.28

4.6%

Bowling

$4.99

$4.93

1.2%

Groceries

Item

Taylor

National avg.

Difference

Ground Beef

$3.31

$3.80

13.0%

Fried Chicken

$1.32

$1.40

5.7%

Milk

$1.87

$2.01

6.7%

Potatoes

$3.01

$3.01

0.1%

Pizza

$8.99

$9.89

9.1%

Beer

$8.72

$8.90

2.0%

Health Care

Item

Taylor

National avg.

Difference

Optometrist

$94.00

$102.16

8.0%

Doctor

$109.00

$108.36

0.6%

Dentist

$94.50

$92.53

2.1%

Ibuprofen

$8.31

$9.28

10.5%

Lipitor

$433.31

$425.82

1.8%

Housing

Item

Taylor

National avg.

Difference

Home Price

$117,300.00

$184,700.00

36.5%

Avg. Mortgage Payment

$1,083.04

$1,202.44

9.9%

Apartment Rent

$847.00

$949.00

10.7%

Transportation

Item

Taylor

National avg.

Difference

Gasoline

$2.15

$2.24

4.0%

Tire Balancing

$40.00

$46.29

13.6%

Utilities

Item

Taylor

National avg.

Difference

All Electricity

$179.08

$165.96

7.9%

Phone

$32.99

$28.68

15.0%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.